Tour of Missouri - Accountants' Report

8/14/2019 Tour of Missouri - Accountants' Report

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TOUR OF MISSOURI, INC. Independent Accountants' Report

On Applying Agreed-Upon Procedures December 31, 2008


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Evers & Cotnpany, CPA's, L.L.C. Certified Public Accountants and Consultants Elmer l. EversJerome l. KauffmanRichard E. ElliottDale A. SiebeneckKeith l. TaylorJo l. Moore

INDEPENDENT ACCOUNTANTS' REPORTON APPLYING AGREED-UPON PROCEDURES

State ofMissouriOffice ofAdministrationCommissioner's OfficeState Capitol, Room 125201 W. Capital Ave.Jefferson City, MO 65102

We have performed the procedures enumerated below, which were agreed to by the Stateof Missouri - Office of Administration solely to assist you with respect to the accountingrecords of Tour of Missouri, Inc.(TOM) for the year ended December 31,2008. TOM'smanagement is responsible for its accounting records. This agreed-upon proceduresengagement was conducted in accordance with attestation standards established by theAmerican Institute of Certified Public Accountants. The sufficiency of these proceduresis solely the responsibility of those parties specified in the report. Consequently, wemake no representation regarding the sufficiency of the procedures described beloweither for the purpose for which this report has been requested or for any other purpose.Our procedures and findings are as follows and are referenced in accordance with the request for proposal: 2.2.3

a. Procedure:Verify the need for wire transfers and trace to vendor and contract.b. Procedure:Trace non-wire disbursements to the associated vendor and contracts.

520 Dix Road JeHerson City, Missouri 65109 573/635-0227 FAX 573/634-3764 Village Green Shopping Center 1021 W. Buchanan Street, Ste. 10 California, Missouri 65018 573/796-3210 FAX 573/796-3452

4571 Hwy. 54, Suite A Osage Beach, Missouri 65065 573/348-4141 FAX 573/348-0989 Member4!1!!Affiliated Offices Worldwide" " ~


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Results:We found no contract stipulations requmng payments to be made by wiretransfer. The 2008 cash disbursement ledger included 282 checks and 36 wiretransfers. Of these disbursements, we noted 27 payments to vendors with no orinsufficient documentation (9%). See attached Exhibit A for a listing of the 27instances of insufficient documentation. Insufficient documentation consists ofeither no vendor invoice or receipt for reimbursement or the information includedon the check request form was not consistent with the supporting documentation.A policy and procedure manual was not provided to us by TOM which wouldhave allowed us to determine if the procedures we were able to observe wereconsistent with the established policies. There was no support documentation forthe following eleven checks: 1034, 1035, 1079, 1082, 1096, 1138, 1141, 1207,1221, 1237 and 1248. A review of the bank statements revealed that these checkshad not cleared the bank as of December 31, 2008. It is presumed that thesechecks were voided. The remaining 280 payments were traceable to: a contract,an invoice or an expense reimbursement request.

c. Procedure:Verify that all disbursements are in accordance with the applicable contract(s).Results:The following contracts (or excerpts thereof) were provided to us and identifiedby the provider as vendor contracts: Hawthorn Foundation, Pinpoint, MedalistSports, LLC, AVF Creations, Mike Weiss for expo sponsorship sales and MikeWeiss for acquisition of corporate sponsorships, Gorski Services, Hyatt Regency,Grote and Associates for 2008 Gala, Grote and Associates for 2009 LOCProspects, Grote and Associates for 2008 Breakaway Club, Versus,MapMyFitness, Phoenix Sports, Madden Media, Visible Display, Kent GordisProductions, All Seasons, IFM Sports, Price Stevenson Acoustic Research,Vitrue, Inc., Event Management Specialists, Inc:, Clark Sheehan Productions,LLC, All Custom Apparel, Golden Corral.Payments to the following six vendors agreed without exception to the vendorcontracts; AVF, Clark Sheehan, Event Management Specialists, IFM Sports,MapMyFitness and Vitrue.Payments to Price Stevenson Acoustic, Phoenix Sports Tech and VisibleDisplay agreed to the contract but the terms of the contracts were inconsistent.All three of these contracts had contract effective dates in August, 2008, however,the contract term ended September 16,2007. The exhibits attached to the contractfor Visible Display and Price Stevenson Acoustic indicated the services were forthe 2008 Tour. The exhibits attached to the contract for Phoenix Sports Techreferenced both the 2008 and the 2007 Tour.

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Payments to Kent Gordis and All Seasons exceeded the original contract amountand the contract does not address the process for change orders, etc. Invoiceswere presented by the vendor in support of the additional payment. The approvalprocess for the additional amounts was not documented on the supportinginformation.The contract with Versus states it is an agreement between HawthornFoundation/Missouri Division of Tourism and Versus and was to produce a twohour program entitled 2007 Tour of Missouri. The total payments to Versus in2008 exceeded this contract. Invoices were presented by the vendor in support ofthe total amounts paid to Versus. Some of the service dates on the invoices areoutside of the contract dates. It is unclear if all of the payments relate to the 2008contract.All three contracts with Grote & Associates provide for a compensation amountplus additional compensation based on performance results and reimbursement ofreasonable and approved expenses. The invoice submitted by the vendor and theonly payment identified in 2008 included of the agreed upon compensation forone contract and the total agreed upon compensation for the other two contractsand expense reimbursements. The information provided to us did not include aninvoice for the other of the agreed upon compensation or for additionalcompensation based on perfonnance results.The contract with Mike Wiess provided for reimbursement of travel, a mealstipend and transportation, a base "salary" and commissions based on sales.Amounts paid to Mike Wiess included 3 of an agreed upon 11 months ofcompensation, reimbursement of expenses and commissions. The base amount ofthe sponsorship on which the commission was based was traced to thesponsorship records. Three of the five commissions billed agreed to thesponsorship payment. The net variance relating to the other two sponsorshipsresulted in an overpayment of commissions of $975.The contract with Golden Corral included a base price plus fees. The invoiceprovided for the total payment did not detail the calculation of the fees in excessof the stated amount.The contract with Pinpoint allowed for a commISSIon based on sponsorshipagreements procured by Pinpoint. Payments totaling $18,600 were made toPinpoint. The sponsorship documentation provided to us confirmed $9,000 ofthat total payment. We do not have information regarding the other sponsor(s) tobe able to recalculate the balance of the payment made to Pinpoint. .

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The contract with Medalist Sports, LLC included a provision for a managementfee plus reimbursement of expenses. The contract indicated an exhibit was to beincluded providing detail of operating line items and reimbursable expenses. Thisexhibit was not provided to us. We did request the information from the Tour ofMissouri and as of the date of this letter none has been received. The contractwith Medalist Sports, LLC also stated that the Tour of Missouri, Inc. will notreimburse Medalist for travel expenses unless such travel has the prior writtenapproval of the Tour of Missouri, Inc. The documentation provided to us did notprovide sufficient detail to allow us to confirm the prior written approval. Tour ofMissouri, Inc. has advised that the internal procedure was to verbally approvethese expenses. The attached Exhibit B summarizes how the Tour of Missouri,Inc. categorized the payments to Medalist Sports into various expense categoriesin the general ledger. There are several categories that include travel relatedexpenses.No disbursements were identified as being issued to the following vendors; Mark Gorski and Madden Media. We also identified payments to 26 different vendors of $10,000 or more that wewere not able to trace to a vendor contract. See Exhibit E for a listing of thesevendors. Note that none of these vendors are included in the description at thebeginning of this procedure that details all of the contracts provided to us. Thesepayments totaled $745,266.06. Except for the items identified in Exhibit A, allpayments were supported by an invoice from the vendor.The Hyatt Regency contract will be addressed later in the section that addresseslodging and banquet contracts.A number of the contracts included a provision that TOM had the right to pre-approve expenses before they were incurred and then subsequently paid. Wewere not able to confirm whether that approval process happened. Also a numberof contracts included a reference to an attached exhibit detailing a budget andthose budget exhibits were not included in the copies of the contracts provided tous.The contract with All Custom Apparel is a trademark license agreement andallows All Custom Apparel to use the TOM logo on apparel. It also requires AllCustom to pay a royalty fee to the TOM based upon a percentage of sales oflicensed products. Tour of Missouri, Inc. paid $58,141.95 to All Custom Apparelfor purchase of apparel to be used by staff and participants in the race. Tour ofMissouri, Inc. received $8,905.89 royalties from All Custom Apparel. The onlydocumentation for this payment was a photocopy of the check from All Customwhich noted "royalties through 10/31/08".

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The following contracts were provided to us and identified by the provider asLodging Contracts; Hilton Kansas City Airport, Hampton Inn St. Charles,Holiday Inn Select, Fairfield Inn, Embassy Suites, Quality Inn, Drury Inn St.Joseph, Drury Plaza Hotel, Hampton Inn St. Louis, Pear Tree Inn, Drury InnUnion Station, Drury Inn Kansas City Airport, Drury Inn St. Peters, Drury InnRolla, Drury Inn Springfield, Hyatt Regency.All of these agreements with the exception of Hyatt Regency, Holiday Inn Selectand Hilton Kansas City Airport were strictly for lodging. The quotes in thelodging agreements were for the availability of a maximum number of rooms at aquoted price. The agreements with Hyatt Regency, Holiday Inn Select and HiltonKansas City Airport included food and beverage provisions. Again, these quoteswere for a maximum number of participants to .be served at a quoted price. Wecompared the total payments to the entity to the provisions in the agreement.There were no payments identified to Holiday Inn Select or Hampton Inn St.Charles. The total payment amounts were within the provisions of theagreements.Recommendation: The Tour of Missouri, Inc. should implement internal controlprocedures to ensure that all contracts contain all exhibits and schedules that areincluded in the contract. Also, procedures should be implemented to ensure thatcontract compliance is verified prior to payments being processed. Theverification process needs to be documented in a manner that can be subsequentlyconfirmed.

d. Procedure:Review variances between contract and actual payments made to vendor.Results:See comments in procedure c above.

e. Procedure:Evaluate the reasonableness of vendor payments i l l relation to the productprovided / service received.Results:Most vendor payments were supported by either an invoice or a contract. Weasked for a copy of the Tour of Missouri, Inc.'s policy and procedure manual toobtain an understanding of their adopted fiscal policies. We have been advisedthat a policy and procedure manual has not been adopted by the Tour of Missouri,Inc. We would have expected to be able to compare the procurement procedure

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with policies and comment exceptions, if any. As noted in procedure c abovethere were payments to several vendors for whom no vendor contract wasprovided. We did review the comparison of 2008 actual income and expenses tothe 2008 annual budget. Total expenses were under budget by $90,098.Recommendation:We would recommend a fiscal policy and procedure manual be adopted and thatthe Division of Tourism include in their contract with the Tour of Missouri, Inc.their expectations with regard to vendor negotiations. Items such as, but notnecessarily limited to, an expectation that the Tour of Missouri, Inc. adopt theState ofMissouri procurement policies could be included in the contract.

f. Procedure:Verify that meal and lodging reimbursements are in accordance with CONUSguidelines and document variances.Results:Meal and lodging reimbursements were made to both the Executive Director andProject Manager for the Tour of Missouri, Inc. and to Medalist Sports, LLC fortheir employees. The payments to the Executive Director and the ProjectManager were tested as part of the procedures listed in procedure a and b above.There were a few isolated instances of missing receipts. As indicated inprocedure e above we requested a copy of the Tour of Missouri, Inc.' s policy andprocedure manuaL We would have expected to see a section devoted to policieson allowable expense reimbursements. Absent any policy to the contrary, wecompared the reimbursement to the receipt and noted no exception other than thefew instances ofmissing receipts.Recommendation:We would recommend the fiscal policy and procedure manual as mentioned inprocedure e above also include policies regarding staff expense reimbursements.Results:For the expense reimbursements submitted by Medalist Sports, LLC we selected asample of reimbursement requests and noted that most all expenses weresupported by receipt documentation. However, a few reimbursements appear tobe in excess of the State's per diem allowance. The agreement with MedalistSports states that "all travel, lodging or meal reimbursement shall be subject tothe extent practicable to the per diem limits established by the policies of the

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State ofMissouri". Of the meal expenses that we tested, many were supported byreceipts that were unclear as to the number of people covered by the receipt or asto the location of the meal. Some of the receipts were illegible . Accordingly,these expenditures could not be compared. The dollar amount of variances wasnot computed or totaled due to the aforementioned reasons. Also, as noted inprocedure c above, the contract between Tour of Missouri, Inc. and MedalistSports, LLC requires written preapproval by TOM for reimbursement of travelexpenses. Documentation confirming the written preapproval process was notprovided to us, therefore, we were unable to verify the preapproval process.Recommendation:

As indicated in procedure c above, a procedure should be implemented to verifythat the terms of the contract are met prior to issuance of the payment and thepreapproval process should be documented so that the process can beindependently verified.g. Procedure:Ensure that employee expense account reimbursements are for necessary andactual expenses incurred.

Results:See comments in procedure f above.h. Procedure:Reconcile profit and loss statements to bank statements and note anydiscrepancies.

Results:See attached Exhibit C for a schedule comparing monthly profit and loss balancesto the balances on the bank reconciliations. The Tour's records forwarded to uscontained no profit/loss statements for March, April, May, or October. TheMarch bank statement indicated that there was no beginning balance which wouldindicate that there had been no transactions in the prior month. We were notprovided information regarding when this bank account was established. Thebank reconciliations appeared to have been generated through the Quickbooks

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software. The profit and loss statements appear to have been generated via anexcel spreadsheet. The statements appear to be prepared on the cash basis methodof accounting, therefore, the reconciled bank balance should equal the net revenueover/under expenses for the same period of time and they did not. The netrevenues over/under expenses on the annual general ledger detail provided did notagree to the year end profit and loss statement. The variance was due to checksthat were voided after the profit and loss statement was generated but prior to thegeneration of the annual general ledger. The net revenue over/under expenses perthe annual general ledger for the year ended December 31, 2008 was reconcilableto the bank reconciliation.The agreement between the Tour of Missouri, Inc. and the Missouri Division ofTourism includes an Appendix A which details process and procedures forfinancial activities. Included in that Appendix is a requirement that the Tour ofMissouri, Inc. provide monthly income and expenditure reports to the MissouriDivision of Tourism. As indicated above there were no profit/loss statements forfour months.Recommendations:

The Tour of Missouri, Inc. should implement internal control procedures toensure contract compliance. The Division of Tourism should implementprocedures to ensure contract provisions are monitored and verified.1. Procedure:Trace source of receipts to supporters and note if there was a contract withsupporter.

Results:We footed the cash receipt ledger provided to us and agreed the total to the totalrevenue on the financial statements. We traced each receipt on the cash receiptledger to deposit documentation, except for 2 deposits. One deposit was made byphone transfer and totaled $5,974.81 and the other deposit totaled $675. Allsupporter contract contribution amounts did agree to their correspondingcontributions made. One contract (Emerson) was silent as to the contributionamount. Additionally, many contributions received from Silver and Bronzesponsors had no sponsor contract on file. We noted several discrepancies insponsor level designations between the sponsor contract, presentation in the Tourof Missouri brochure and the general ledger. See Exhibit D for identification ofspecific discrepancies identified.See Exhibit F for a summary of cash receipts during 2008 by source of receipt.

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J. Procedure:Verify that contracts entered into are essential to support the event.Results:Sponsor contracts (contributions) appear very essential to the event. Vendorcontracts reviewed appear to be related to the management and operation of theTOM bike race. The outcome of a determination of whether a contract is"essential" to support the event would probably be very different depending uponwho was responsible for making the determination.Recommendation:We would recommend that the details of allowed and allowable expenses be moreclearly defined in the terms of the contract between the Division of Tourism andthe Tour of Missouri, Inc. to allow for a more informed analysis of the contracts.We would also recommend that the contract between the Division ofTourism andthe Tour of Missouri, Inc. include a detailed line item budget and the profit/lossstatements be compared to the budget to allow for monitoring of budgetcompliance.

k. Procedure:Review if contracts with state agencies were entered into, what services werecontracted for and if those services were received, and determine if contracts existto cover in-kind expenses.Results:The only contract that appears to be with a state agency is the contract betweenTour of Missouri, Inc. and the Division of Tourism. The contract is for hostingthe TOM bike race, which was accomplished. A few vendor contracts make noteof providing in-kind services. We were unable to determine if in-kind serviceswere provided, or by what state agencies, as there was little to no verificationprocess and no amounts were reflected in the financial statements.Procedure:Determine if subcontractor contracts exist and review for specific services.Results:We believe that subcontractors would represent those vendors who havecontracted with Tour of Missouri, Inc. to provide specific goods or services inregards to the TOM bike race. These contracts were discussed at procedure cabove.

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2.2.4

m. Procedure:Review Tour by-laws and confirm compliance as it relates to salaries andconflicts.Results:The Tour's by-laws state that no director or officer is to be compensated unlessthe members otherwise agree in writing. Conflicts of interest are addressed on 3+pages of the by-laws and appear to cover most any type of conflict. Any knownconflict is to be disclosed according to procedures noted therein. No conflictswere disclosed in the records provided to us.

a. Procedure:Determine if TOM has monitored and reviewed all financial transactions relatingto the race.Results:As indicated in earlier procedures, we had requested a policy and proceduremanual from the Tour of Missouri, Inc. and were advised that a manual has notbeen adopted. We would have expected to compare the monitoring procedures asdetailed in the manual with the documented results and noted any exceptions. Wewere not able to perform this comparison.

b. Procedure:Determine if TOM has been responsible for keeping financial records for the raceand provided monthly income and expenditure reports to the State.Results:See results and recommendations detailed in procedures 2.2.3 h above.

c. Procedure:Determine if TOM has utilized sound fiscal management practices to maximizethe efficiency of the funds provided by the State and private parties.Results:We did note that all funds are held at one financial institution in one accountwhich is not an interest bearing account and, while balances at the beginning ofthe year and the end of the year are not significant, for a few months the balancewas significant enough to generate some interest income.

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Recommendation:As previously indicated in several procedures above, we would recommend thatthe Tour of Missouri, Inc. adopt detailed fiscal and management procedures andpolicies. These policies should include, but would not necessarily be limited to,procurement, reimbursement of expenses, whistle blower, conflict of interest,chart of accounts, contract approval, banking, fiduciary bonds, etc. We wouldalso recommend the contract between the Tour of Missouri, Inc. and the Divisionof Tourism specifically outline all of the expectations against which contractperformance will be judged and that those same performance standards apply tocontracts entered into by the Tour of Missouri, Inc. for the annual bike race. Wewould recommend that the contract between the Tour of Missouri, Inc. and theDivision of Tourism require the Tour of Missouri, Inc. to provide a detailed lineitem budget for the annual bike race and allow the Division ofTourism to approvethe budget. The contract should address the consequences of budget to actualvariances.

d. Procedure:Determine if TOM has provided progress reports detailing the progress madetoward completing implementation plans and future tasks to be accomplished tomake the race a success.Results:The copies of the monthly profit and loss statements provided us also contained a"Status Report" detailing function, date due, date finished, responsibility andstatus. It is our understanding that the Division of Tourism accepted these reportsas satisfying the requirement to provide progress reports.

We were not engaged to, and did not; conduct an audit, the objective of which would bethe expression of an opinion on the accounting records. Accordingly, we do not expresssuch an opinion. Had we performed additional procedures, other matters might havecome to our attention that would have been reported to you.This report is intended solely for the information and use of the State of Missouri, Officeof Administration and is not intended to be and should not be used by anyone other thanthose specified parties.

EVERS & COMPANY CPA's LLCJefferson City, MOSeptember 29, 2009

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Exhibit A

TOUR OF MISSOURICASH DISBURSEMENTS TESTINGYE 12/31108

THE FOLLOWING IS A LISTING OF EXCEPTIONS NOTED WHILE TRACINGCASH DISBURSEMENTS TO SUPPORTING DOCUMENTATION:CheckNumber

1024 Check to Boys & Girls Club ($500) has no written check request form or written documentation. 1032 Check to Stacy Bloomberg ($1,280.96) not included on a a check request form 1033 Check to Jerry Dowell ($71.17) was not included on a check request form. 1041 Check request dated 8113108 is missing documentation for James Taylor ($303.08). 1048 Check to Linda Jackson ($1,000) has no check request form. There is no invoice or other documentatin

other than an e-mail message with no amount noted. 1053 Check request dated 8/15108 is missing documentation for US Treasury ($750). A copy of the

application for tax exempt status was not provided to us. 1072 Check request dated 8126108 noles a paymenl to Bylery RV for $7,508.63, bul invoices allached lotal $8,513.61. 1073 Check requesl dated 8127108 is miSsing documentation for Bylery RV ($2,500). 1074 Check requesl daled 8127108noles a paymenllo Cylcing for $7,508.63, .

bul documenlation atlached & the aClual check totals $425.00 1086 Check requesl daled 915108 is missing documentation for James Taylor ($10,000) 1087 Check request daled 915108 is missing documenlation for Corley Printing ($24,282.82) 1098 Check request dated 917108 is miSSing documentati on for KCRDDF prize money ($5,000) 1105 Check request dated 917108 is missing documentation for Jennifer Taylor ($2,270) 1107 Check request dated 917108 is miSSing documenlation for Jeff Przybyla ($1,395) 1108 Check request dated 917108 is missing documentation for Jennifer Taylor ($100)

TOM advises the "$100 is 10 cover Ihe additional McGralh Ice Invoice". The tolal paymenllo McGralh plus Ihe payment to Jennifer Taylor equals the total McGrath invoice, however, there is no documentation indicating the payment was to be allocated to Iwo vendors.

1114 Check request dated 9117108 ($220,821.55)but atlached documentation and actual check lolals ($733.97).

1120 Check request dated 9118108 is missing documenlation for James Taylor ($110.50)1123 Check request daled 9118108 is missing documentation for George Fern ($1.870).1129 Check request dated 9119108 has an amount of $34,440 for Mike Weiss - actual check & documenlalion was for

$37,713.27.1156 Check request daled 9130108 has an amounl for $1,000 for Cheerwine Cycling. There is no invoice or other

documentation attached, other Ihan an e-mail copy wilh no amount nOled.1208 Check request dated 10122108 the documentation for payment 10 Debra Lee ($287.01) is a copy ofprint oUl showing a charge to a credit card. however, no detail on the purpose of the charge.1212 Check request dated 10122108 is missing I of the 2 invoice copies for PInpoint tolal paymenl ($9,600).1215 Check request dated 10122108 Jerry Dowell's expense reimbursment request ($393.61) is missing a receipt for airline lickels.1261 Check requesl dated 1212108 contains Hertz invoices tolalling $118.42, but check was wrillen for $122.25.1267 Check request dated 1212108 expense report ($411.20) for Jerry Dowell is missing receipts for 3 of the 7 items listed.1270 Check request dated 12122108 is miSSing documentalion for KOM Sports Markeling ($20.000)1276 Check request dated 12122108 is missing documenlalion for Tolal RF Productions ($75,000).

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Exhibit BTOUR OF MISSOURI, INC.EXPENSES REIMBURSED TO MEDALIST SPORTS

UNIDENTIFIED

YE 12131108CONSULTANT EXPENSES $ 41,386:16INSURANCE 63,677.00MILEAGE I VEHICLE EXP 748.93SUPPLIES 294.42POSTAGE I SHIPPING 176.94TELEPHONETRAVEL & ENTUCI FEES

8,066.574,279.60150.00CLOTHING - STAFF 988.03DESIGN 400.00JERSEY PRODUCTION 764.48MEDIA I PR SALARIESPHOTOGRAPHY 10,555.006,000.00PRESS CONFERENCE 4,307.33PRESS ROOM OPERATIONS 9.99SHIPPINGAIRFARE 3,935.2395,599.86CREDENTIALSEQUIP RACE OFFICE 1,100.28421.70GAS & TOLLSGROUND TRAVEL 20,350.18337.30MEALS - STAFFMEALS - DURINGPARKING51,585.001,432.39297.00SALARY - OPS STAFFSALARY TRANS STAFFVEHICLE DAMAGE7,221.004,800.00148.28VEHICLE RENTALVEHICLE SUPPLIES 6,171.59690.00OTHER SALARIESSALARY - SITE DECOR 3,160.005,575.50SPONSOR I EVENT SIGNAGECELL PHONES 5,450.00176.00COMPETITION SUPPORT EQUIP 932.92MEDICAL CONTROL 472.00MEDICAL STAFF & SUPPLIESMOTOR SERVICESOFFICIALS FEES

12,845.0032,197.009,189.00PRINTING - MANUALS 481.38RADIO TOURROUTING SURVEY 2,360.00905.92SALARY-ANNOUNCER 13,259.00SALARY CARAVAN DIR &COORSALARY - CARAVAN DRIVERSALARY - COMM CREWSALARY - EXPO COORDINATOR

3,959.004,838.002,006.006,500.01SALARY - FEED ZONE STAFFSALARY - OFFICIALS I TEAM 1,652.001,59300SALARY - ROUTING & SIGN CREWSALARY SECURITYSALARY STAGE CREWSALARY - TECH (POLICE)SALARY - WHIPS

START I FINISH EQUIP RENTTECHNICAL SUPPLIES

4,720.004,248.0020,237.001,180.001,416.005,000.006,653.39CONSULTANT - VOLUNTEER COORMARSHALL SUPPLIES 3,540.00201.63SALARY - MARSHALS 5,900.00

$ 498,449.63

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Exhibit CTOUR OF MISSOURICOMPARISON OF MONTHLY P&L BALANCES TO RECONCILED BANK BALANCESYE 12/31/08

Revenues>Expenses per ReconciledTOM P&L bank balance

$ 259,360.10 3/31/2008173,897.14 4/30/2008123,316.16 5/31/2008

6/3012008 $ 98,274.17 103,121.41 6/30/20087/31/2008 1,126,921.79 1,128,365.39 7/31/20088/31/2008 894,478.19 906,482.62 8/29/20089/30/2008 931,528.53 782,749.61 9/30/2008

276,561.15 11/1/200812/2/2008 108,658.89 101,249.19 11/30/2008

12/31/2008 $ 32,167.93 12/31/2008

$ 31,847.91320.02 #1179 voided1,127.57 #1021 voided336.00 #1260 voided---. . . ::. . . . ::-;. . . ;;. . . . ;

12/31/2008 per GIL $ 33,631.50 .50

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Exhibit 0TOUR OF MISSOURIFINDINGS - CASH RECEIPTSYE 12/31/08

OUR REVIEW OF CASH RECEIPTS YIELDED THE FOLLOWING FINDINGS:1) We noted variations in sponsorship levels as follows

- Bissell was designated as a Bronze sponsor in the general ledger and in the TOMbrochure, but no such designation was noted in the contract copy.

- Edward Jones was designated as a Gold sponsor in the general ledger and in the TOMbrochure, but was designated as a Silver sponsor in their contract copy.

- AT&T was designated as a Bronze sponsor in the general ledger and in the TOMbrochure, but had no contract on file.

- THF Realty was designated as a Bronze sponsor in the general ledger and in the TOMbrochure, but had no contract on file.

Wind Capital Group was designated as a Silver sponsor in the general ledger and in theTOM brochure, but had no contract on file.

Cerner was designated as a Silver sponsor in the general ledger and in the TOMbrochure, but had no contract on file.

Ameren UE was designated as a Bronze sponsor in the general ledger and in the TOMbrochure, but had no contract on file.

Vi-Jon was designated as a Tour Partner in the general ledger, a Bronze sponsor in theirsponsor contract & a Supplier in the TOM brochure.

AgriMissouri was designated as a Bronze sponsor in the general ledger and in the TOMbrochure, but was designated as a Silver sponsor in their contract copy.

National City Bank was designated as a Bronze sponsor in the general ledger and in theTOM brochure, but had no contract on file.

Missouri Partnership (MOPAR) was designated as a Silver sponsor in the general ledgerand in the TOM brochure, but had no contract on file.

2) No deposit detail 1check copies accompanied the deposits on 5/20/08,10/31/08 & 11/7108.3) No deposit detail was provided on the 6118/08 telephone transfer.4) We noted several instances of checks being deposited after a Significant time lag, sometimes

over one month from the check date.5) All sponsor contribution amounts were agreed to their sponsor contract copies, except for those

with no contract on file. The Emerson Electric sponsor contract was s ilent as to acontribution amount.

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17/18

Exhibit ETour of Missouri. Inc.Payments> $10,000 1No Vendor Contract on File12/31/2008

ALL CUSTOMVISION SCREEN PRINTINGCORLEY PRINTINGAPEX COMMUNICATIONSKING OF MOUNTAIN SPORTS MARKETINGCISIONJAMES TAYLORTOTAL RF PRODUCTIONSMOBILE EDGE USA CYCLING J. BUCKSMARSHALL AUSTIN PRODUCTIONSBYLERYRVCREATIVE EVENTSHERTZCAT ENTERTAINMENTREVERSEST. LOUIS POST-DISPATCHTHE SPARK AGENCYDDI MEDIAENTERPRISE RENT -A-CAR KANSAS CITY STAR PENSKE TRUCK LEASING INSIDE COMMUNICATIONS SIGN-A-RAMA KMOVTV

$ 58,141.9551,771.5557,988.3026,250.0032,814.6212,646.9326,016.0377,639.4314,187.1110,555.0020,000.0053,700.0010,008.6351,200.0052,963.6830,000.0020,749.0016,449.9117,415.4316,000.0010,403.2315,000.0014,797.7317,500.0013,067.5318,000.00

$ 745,266.06

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http:///reader/full/58,141.95http:///reader/full/51,771.55http:///reader/full/57,988.30http:///reader/full/26,250.00http:///reader/full/32,814.62http:///reader/full/12,646.93http:///reader/full/26,016.03http:///reader/full/77,639.43http:///reader/full/14,187.11http:///reader/full/10,555.00http:///reader/full/20,000.00http:///reader/full/53,700.00http:///reader/full/10,008.63http:///reader/full/51,200.00http:///reader/full/52,963.68http:///reader/full/30,000.00http:///reader/full/20,749.00http:///reader/full/16,449.91http:///reader/full/17,415.43http:///reader/full/16,000.00http:///reader/full/10,403.23http:///reader/full/15,000.00http:///reader/full/14,797.73http:///reader/full/17,500.00http:///reader/full/13,067.53http:///reader/full/18,000.00http:///reader/full/745,266.06http:///reader/full/58,141.95http:///reader/full/51,771.55http:///reader/full/57,988.30http:///reader/full/26,250.00http:///reader/full/32,814.62http:///reader/full/12,646.93http:///reader/full/26,016.03http:///reader/full/77,639.43http:///reader/full/14,187.11http:///reader/full/10,555.00http:///reader/full/20,000.00http:///reader/full/53,700.00http:///reader/full/10,008.63http:///reader/full/51,200.00http:///reader/full/52,963.68http:///reader/full/30,000.00http:///reader/full/20,749.00http:///reader/full/16,449.91http:///reader/full/17,415.43http:///reader/full/16,000.00http:///reader/full/10,403.23http:///reader/full/15,000.00http:///reader/full/14,797.73http:///reader/full/17,500.00http:///reader/full/13,067.53http:///reader/full/18,000.00http:///reader/full/745,266.06


18/18

Exhibit FTour of Missouri, Inc.Summary of Cash ReceiptsYE 12/31/08

The following is a summary of deposits by source made into the checking accountfor the year ended 12/31/08State of Missouri - Division of TourismDepartment of AgricultureMissouri Development Finance Board**State of MissouriGold SponsorsFarm Bureau

Drury Inn Edward Jones Monsanto Emerson Electric Anheuser Busch Silver SponsorsWind Capital Group, LLCCernerOsborn & BarrBronze Sponsors Bissell AT&T Michael Staenberg 1THF Realty Associated Electric Cooperative Rodgers / Townsend National City Corporation Tour Partner

Team Fees Donations for st. Charles event Expo Participation Public Sales LOC/Sponsor Sales Merchandise Other Hawthorn Foundation

$ 1,709,794.0015,000.00500,000.0050,000.00

100,000.0075,000.00100,000.00100,000.00100,000.0050,000.00

25,000.0025,000.0050,000.0020,000.0025,000.0025,000.0027,000.0015,000.0031,000.0058,000.0063,000.0049,000.0011,025.0010,620.0013,095.0210,037.498,692.28

5,974.81$ 3,272,238.60

** $25,000 deposited on 11-7-08 and included in cash receipt questionsdeposi t record does not include supporting documentation, receiptcoded to Agri Missouri by TOM.

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http:///reader/full/1,709,794.00http:///reader/full/15,000.00http:///reader/full/500,000.00http:///reader/full/50,000.00http:///reader/full/100,000.00http:///reader/full/75,000.00http:///reader/full/100,000.00http:///reader/full/100,000.00http:///reader/full/100,000.00http:///reader/full/50,000.00http:///reader/full/25,000.00http:///reader/full/25,000.00http:///reader/full/50,000.00http:///reader/full/20,000.00http:///reader/full/25,000.00http:///reader/full/25,000.00http:///reader/full/27,000.00http:///reader/full/15,000.00http:///reader/full/31,000.00http:///reader/full/58,000.00http:///reader/full/63,000.00http:///reader/full/49,000.00http:///reader/full/11,025.00http:///reader/full/10,620.00http:///reader/full/13,095.02http:///reader/full/10,037.49http:///reader/full/8,692.28http:///reader/full/5,974.81http:///reader/full/3,272,238.60http:///reader/full/1,709,794.00http:///reader/full/15,000.00http:///reader/full/500,000.00http:///reader/full/50,000.00http:///reader/full/100,000.00http:///reader/full/75,000.00http:///reader/full/100,000.00http:///reader/full/100,000.00http:///reader/full/100,000.00http:///reader/full/50,000.00http:///reader/full/25,000.00http:///reader/full/25,000.00http:///reader/full/50,000.00http:///reader/full/20,000.00http:///reader/full/25,000.00http:///reader/full/25,000.00http:///reader/full/27,000.00http:///reader/full/15,000.00http:///reader/full/31,000.00http:///reader/full/58,000.00http:///reader/full/63,000.00http:///reader/full/49,000.00http:///reader/full/11,025.00http:///reader/full/10,620.00http:///reader/full/13,095.02http:///reader/full/10,037.49http:///reader/full/8,692.28http:///reader/full/5,974.81http:///reader/full/3,272,238.60

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Tour of Missouri - Accountants' Report

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